There is a surprising value investment in the world of self-driving vehicles; it’s Intel (NASDAQ: INTC) one of the grand old names in technology. The chip maker is making a big push into the business of autonomous vehicles.

Intel has formed an alliance with auto parts maker Delphi Automotive (NYSE: DLPH); and Israeli driving-solution creator Mobileye (NYSE: MBLY), to develop a low cost operating system for autonomous vehicles, The New York Timesreported. The centerpiece of the system will be Intel’s Core i7 chip.

The hope is to provide enough processing power to create a fully automated vehicle, Glen DeVos; Delphi’s Vice President of Engineering and Services, told The Times. Intel has also developed a more powerful processor that will be unveiled in a few weeks.

The Core i7 is capable of computing 20 trillion mathematical operations a second. The new chip might have two to three times the processing power. That power will be needed to get a fully autonomous vehicle on the road.

Intel is Serious about Self-Driving Vehicles

To test the vehicle on the road, Intel and Mobileye have a partnership with BMW (OTC: BMWYY). Intel will provide the chips for BMW’s self-driving car, which is scheduled to hit the highway in 2021. Mobileye will provide the software for the same vehicle.

Intel is also planning to invest $250 million in startups working with autonomous vehicle technology. That might give the company a portfolio of valuable patents in the self-driving arena.

The holy grail Intel is trying to create is specialized chips for the operating systems of self-driving cars. There’s going to be a huge market for such chips in the years ahead. Ford (NYSE: F) is hoping to have the first true self-driving vehicle on the road within five years, by 2021.

Those vehicles are going to need a lot of processing power and Intel will be there to supply it. That makes the company a classic value investment, instead of sinking their money into risky ventures like Tesla, smart value investors buy profitable firms that supply the components.

No matter which company ends up dominating self-driving vehicles it will need processors. Intel is one of the logical companies to supply them, just as Mobileye will supply the software.

Since there will probably be millions of autonomous vehicles on the roads the potential market for Intel is huge. This makes Intel a great speculative play in the autonomous vehicle field.

Intel is a Great Value Investment

What’s more interesting is that Intel is a great value investment right now. This is a company that reported $57.93 billion in in revenues and a net income of $10.37 billion on September 30, 2016, that was trading at $34.98 a share on December 7, 2016.

INTC investors are getting a lot of value for their money, data from ycharts indicate. Some of the highlights from Intel’s third quarter 2016 earnings report include:

A profit margin of 21.41%.

A free cash flow of $3.295 billion.

Assets of $112.22 billion.

Cash and short-term investments of $17.77 billion.

$19.08 billion in cash from operations.

These numbers show us that Intel is a cash-rich company but it’s also a growing company. Intel’s revenues rose by $2.77 billion over the year that ended on September 30, 2016. Intel reported revenues of $55.16 billion in September 2015 and $57.93 billion a year later. To add icing to the cake Intel’s revenues grew by $1.77 billion during third quarter, 2016, rising from $56.61 billion in June to $57.93 billion in September.

That makes Intel a value investment that is capable of a lot of growth. That growth is occurring without the autonomous car market.

Intel is a Pretty Good Income Investment

If all that was not enough, Intel is also a pretty good income and dividend investment.

INTC investors are scheduled to receive a cash dividend of 26¢ on December 1, 2016. That dividend has been paid every quarter since February of 2011. It has also been rising on a pretty steady basis.

Back in 2011 Intel paid a cash dividend of 21¢ that rose to 22.5¢ in 2012, 24¢ in 2014, and 26¢ in 2016. Not the greatest dividend around, but it is a reliable stream of income making Intel a classic widows and orphans stock.

That payout created a dividend yield of 2.97% on December 7, 2016. Investors also received a return on equity of 17.06% on the same day.

If you’re looking for a way to cash in on self-driving cars, Intel might be it. The chipmaker is well positioned to supply the processing power that automakers will need to make the autonomous vehicle a reality. This will lead to a huge new market for Intel, that might take the place of PCs.